Learn about hiring an estate planning attorney
Estate planning needs to be done very carefully because it is a very serious business. When you will be considering hiring an estate planning lawyer, even the simplest of mistakes can ruin everything. One missing signature and one wrong word, can change the intent of a trust or will entirely. Apart from that, these few reasons below would enable you to hire an estate planning attorney. Moreover convince you to go out searching for one, in order to hire a qualified estate planning attorney to draft your documents.
Ruling of state laws over estate plans
State laws can be very specific when it comes to what can and cannot be in a will, trust and medical or financial power of attorney. The people who are eligible to serve as a personal representative, health care surrogate, trustee or attorney to be precise. The formalities that are necessary and need to be observed when signing a trust, will or medical and financial power of attorney.
For example, in some states it is necessary for the representative to be related to you, by blood or marriage. If none of these terms apply, then they must be a resident of the state. With time, the wills of such states are designated by an attorney or friend from out of the state as the personal representative. The people who are not the residents, not the relatives, cannot serve. Hiring an estate planning attorney who is experienced would prevent you from going through these hassles, avoid simple and costly mistakes like these.
No state lawyer?
Be aware when you do not have a state lawyer. The statement that buyers should be aware applies to the estate planning. If you have this assumption that looking for forms over the internet and filling them out would be helpful, it is certainly a misconception that will get you down the drain eventually. The fact that these things are highly not allowed is that after some time your family would probably get a shock that most of your legal documents and wills are not valid.
Eventually leading to spending thousands of dollars working on your loved ones with a qualified planner of the estate, in order to fix all the mistakes made and problems caused.
Sorting out financial situations
Take a look at this list and find out whether you fit into either of these categories
- You are the second or later spouse
- You own real estate in not just one but more than one state
- You have several businesses
- Disabled member in the family
- No children
- Problematic children
- Minor children
- You wish to leave some or all of your estate to charity
- Your spouse recently died, or left you
Even if just one of these statements apply to you, it is necessary that you hire an experienced and skilled attorney who has pass the Bar exam and fulfilled the Bar exam requirements by state. Otherwise, unfortunately, you may have to forfeit.